Autoscribe Corporation, one of the nation’s oldest and most respected providers of payment processing technology, announced today that Lyons Commercial Data is now a business unit of AutoScribe Corporation. Lyons, also based in Rockville, MD specializes in providing settlement-related data for financial institutions, identity intelligence, USA PATRIOT Act compliance solutions, and is the nation’s largest privately-held supplier of bank routing information.
“We see this as a unique strategic opportunity,” said Robert E. Pollin, President and CEO of Autoscribe, “to combine two strong and profitable companies into an integrated market leader whose scale will drive even greater growth and client value.” Autoscribe and Lyons share many clients, and there is a great deal of synergy between their product lines, Pollin said. “The benefits of this transaction are many. The combination of Autoscribe and Lyons provides a single source for financial intelligence and transaction processing that is stronger, deeper, and greater than the sum of its parts.” Both companies will retain their names and trademarks, Pollin said.